EU's Stance on Trade Reciprocity with China

European Commission President Ursula von der Leyen indicated on Thursday that the European Union might need to reevaluate its openness to Chinese imports if Beijing does not offer more trade reciprocity. Speaking after discussions with Chinese leaders in Beijing, she noted China's expressed willingness to bolster consumption.

Von der Leyen highlighted the discrepancy in trade practices, stating, "Unlike other major markets, Europe maintains its market open to Chinese goods, emphasizing our commitment to rules-based trade. However, China's reciprocity has not been forthcoming."

She also pointed out issues of overcapacity, China's subsidized production not meeting domestic needs, and how restrictions on Chinese imports elsewhere post pressure on the EU market. Von der Leyen warned that without progress on these matters, maintaining the EU's current openness may become challenging.

(With inputs from agencies.)